China Invests $24 Billion in Giant Coal-to-Oil Project, Defying Climate Goals.

China Energy Investment Corp., the largest coal mining company in China, has announced plans to construct a significant project in Xinjiang with the objective of converting coal into oil products. The company is investing $24 billion in the construction of the integrated plant, with the first phase scheduled to commence operations in 2027. This project forms part of a series of coal-to-oil developments that have been approved in mining hubs across the country. Hami city has indicated its intention to approve projects with a combined value of $45 billion, which could consume 152 million tons of coal by the end of the decade. Despite China's commitment to clean energy, it continues to be the world's largest coal producer. However, coal's primary use in electricity generation has been overtaken by solar and wind installations. President Xi Jinping has stated that coal consumption must begin to decline from 2026 in order to meet the country's climate goals.
Ubah Batubara Jadi Minyak, Perusahaan Tambang China Habiskan US$ 24 miliar (kontan.co.id)

US Inflation Rises, Fed Threatened to Raise Interest Rates Again?

The consumer price index (CPI) in the US rose by 2.4% year on year (YoY) in September 2024, exceeding analysts' projections of 2.3% YoY. On a month-on-month basis, inflation reached 0.2%, exceeding the projected 0.1%. The core CPI, which excludes food and energy costs, saw a 0.3% increase on a month-on-month basis and a 3.3% increase year on year. Housing and food were the primary contributors to the overall monthly increase, representing over 75% of the total. Following a year of consistent decline, goods prices also rose. The higher-than-anticipated inflation figure, in conjunction with robust labour data from the previous week, will likely intensify the debate surrounding the potential for the Federal Reserve (Fed) to implement a minor rate cut next month or to pause after a notable decrease in September.
Inflasi AS September 2024 Lampaui Perkiraan, The Fed Tetap Pangkas Suku Bunga? (bisnis.com)

Warren Buffett Targets Japanese Market: Yen Bond Sale and Stock Investment.

Berkshire Hathaway, led by Warren Buffett, has successfully raised $1.9 billion through the issuance of yen-denominated bonds, marking their largest bond sale in Japanese currency in the past five years. This development reflects Mr. Buffett's growing interest in the Japanese financial market, as the company has been significantly investing in Japan's trading houses over the past four years. The bond sale forms part of Berkshire Hathaway's strategy to expand its exposure to Japanese assets. The proceeds from the bond sale will be allocated for general corporate purposes, as outlined in a filing with the SEC. In 2020, Berkshire Hathaway announced its investment in a Japanese trading house with plans to maintain a long-term stake and potentially increase it to 9.9%. This demonstrates Mr. Buffett's confidence in the Japanese economy and the trading sector.
Warren Buffett Kumpulkan US$1,9 Miliar Melalui Penerbitan Samurai Bond (kontan.co.id)